VA HB 68
Status unknownReal property; effect on rate when assessment results in tax increase, consideration of inflation.
Virginia · 2026 Regular Session · lower
Quick answers
Did VA HB 68 pass?
The current status of VA HB 68 is not known from the official record. Latest recorded action (2026-01-28): Continued to next session in Finance
What is VA HB 68 about?
Local taxation of real property; effect on rate when assessment results in tax increase; consideration of inflation. Provides that, in determining a locality's total real property tax levies for purposes of determining the rate of levy that the locality shall impose upon such properties in order to produce no more than 101 percent of the previous year's real property tax levies, such real property assessed value shall be reduced by the greater of (i) the change in the United States Average Consumer Price Index for all items, all urban consumers (CPI-U), as published by the Bureau of Labor Statistics for the U.S. Department of Labor, since the fiscal year of the last assessment or (ii) zero.
Who sponsors VA HB 68?
Joseph P. McNamara is the primary sponsor of VA HB 68.
Description
Local taxation of real property; effect on rate when assessment results in tax increase; consideration of inflation. Provides that, in determining a locality's total real property tax levies for purposes of determining the rate of levy that the locality shall impose upon such properties in order to produce no more than 101 percent of the previous year's real property tax levies, such real property assessed value shall be reduced by the greater of (i) the change in the United States Average Consumer Price Index for all items, all urban consumers (CPI-U), as published by the Bureau of Labor Statistics for the U.S. Department of Labor, since the fiscal year of the last assessment or (ii) zero.
- Introduced
- 2025-12-30
- Latest action
- 2026-01-28 — Continued to next session in Finance
- Bill type
- bill
- Last updated
- —
Sponsors
- Joseph P. McNamaraprimary
Committees
Not provided by source.
Action timeline
2025-12-30
Prefiled and ordered printed; Offered 01-14-2026 26101665D
filing,introduction
2025-12-30
Referred to Committee on Finance
referral-committee
2026-01-16
Assigned HFIN sub: Subcommittee #2
referral-committee
2026-01-18
Fiscal Impact statement From TAX (1/18/2026 4:49 pm)
2026-01-27
House subcommittee offered
2026-01-27
House subcommittee offered
2026-01-27
Subcommittee recommends continuing to (Voice Vote)
2026-01-28
Continued to next session in Finance
Versions
Documents
Votes
Not provided by source.
Related bills
No related bills recorded for this bill.
Official source
Attribution
Data from openstates_bulk_csv, retrieved 2026-07-24T05:35:59.552682Z
Inspect retained evidence for changes recorded after evidence tracking began:
Use this data
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